AVIRA RESOURCES LTD — Capital/Financing Update 2016

Sep 14, 2016

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ASX Announcement 15 September 2016

ARMSTRONG INDUSTRIES HK LIMITED – CHANGES TO CONVERTIBLE NOTE TERMS

ASX CODE

MGT Resources Limited (MGT) wishes to inform the market that Armstrong Industries HK Limited (‘Armstrong’) has signed a Variation Agreement agreeing to the following:

• The extension of the maturity date of the existing $1,500,000 Convertible Note due on 11 November 2016 to the earlier of:

  • 11 November 2017 and

  • 14 days after the date that MGT is in receipt of the funds from the successful capital raising required for MGT to purchase 30% of the Manyingee Mining Leases from Paladin Energy Limited (‘Paladin’) (see Announcement dated 21 July 2016) and working capital in the amount of at least US$11.5 million.

• The interest rate on the Armstrong convertible note will remain at 8% in respect of the period up to and including 11 November 2016 and will increase to 15% in respect of the period on and from 12 November 2016.

MGS

ASX Release REGISTRY 15 September 2016 Computershare

ASX CODE SHARES ON ISSUE MGS

483,066,131 REGISTRY

Computershare

Tin Price: US$17,902/t SHARES ON ISSUE Gold Price: US$1,329oz 483,066,131 U3O8 Spot Price: US$xx

MGT Resources Limited Suite 1305, Level 13, 109 Pitt Street Sydney NSW 2000 MGT Australia Resources Limited T: 61 2 9262 1122 Suite 1305, Level 13,F: 61 2 9299 5175 109 Pitt Street Sydney NSW 2000www.mgt.net.au info@mgt.net.au Australia